Tag Archives: Big Data

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SupTech: Is AI Ready For Regulators?

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Technology advancements in ML, AI and Big Data has led to further enhancement of supervisory processes, introducing SupTech. But is it the right time to embrace it and is it ready for adoption? Read more to understand the benefits of AI in SupTech and how it can streamline regulations for the industry. While financial institutions…

Innovation & Integrity: HEXANIKA ’s Blueprint to Success

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Innovation & Integrity are the two pillars with which HEXANIKA has built revolutionary industry-specific data solutions for banking, insurance, financial services and healthcare industries. This blog explores the philosophy and culture of the company and how it has helped create a customer first approach to deliver successful insights and savings. “To win in the marketplace…

Why is Regulatory Reporting Tough?

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‘Regulatory reporting’ is the submission of raw or summary data needed by regulators to evaluate a bank’s operations and its overall health, thereby determining the status of compliance with applicable regulatory provisions. Governments across the world give prime importance to keep their banking systems updated. This has proved to be an important task, more so after the…

Scope of Data Integration

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Data[1] integration involves combining data residing in different sources and providing users with a unified view of data. This process becomes significant in a variety of situations, which include both commercial (when two similar companies need to merge their databases) and scientific (combining research results from different bioinformatics repositories) domains. Data integration has increased  as the volume and the need to…

Big Data Adoption Process

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Big Data, the current buzz word in the IT and financial space has caught the imagination of a lot of organizations. Studies released in the past year or so have clearly shown that Big Data investments are rising across industries and around the globe[1]. It represents a business adoption paradox: it promises speed, but successful…

The Rise and Scope of FinTech

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There are undoubtedly a lot of challenges banks are currently facing. The dynamic regulatory environment and the rise of technology in everyday banking activities is changing the way we bank, and catering to this fast evolving dynamics is tough for most banks. This is where FinTech is making a difference. According to the infographics created…

How Big Data Addresses the Issue of Anti-Money Laundering

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Anti-Money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent, detect, and report money laundering activities. Money laundering activities typically aim to generate income with no regulation to maximize income for as little cash outflow as possible, with no…

Regulatory Reporting for Financial Institutions: The Technology Challenge

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While we have previously analyzed the impact of regulations on banks due to various key issues (see related articles at the end of the blog), implementation of new technology and the need to update IT infrastructure has been a significant issue for banks and financial institutions. Regulators demand information on various activities (liquidity management, asset…

Big Data Analytics: Modern day Use Cases

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The primary goal of Big Data Analytics is to help companies make more informed business decisions by enabling data scientists, predictive modelers and other analytics professionals to analyze large volumes of transaction data, as well as other forms of data that may be untapped by conventional business intelligence (BI) programs. History and evolution of Big Data Analytics [1]…